Thai conglomerate King Power, the current owners of Leicester City, have announced that they are looking to sell the club for a price exceeding £200 million. The club, which once lifted the Premier League trophy, has been quietly exploring potential buyers through Citibank, a move that was first reported last month. Sky Sports News has now obtained a sales brochure prepared by the investment bank, which outlines the investment opportunity and lists the assets that would be transferred as part of the deal. According to the dossier, the package on offer includes not only the men’s and women’s first‑team squads, but also the King Power Stadium, both the men’s and women’s training complexes, and Leicester’s sister club in Belgium, OH Leuven.
The project, dubbed “Project Lineup,” places a valuation of £224 million on the physical infrastructure, although it does not assign a separate figure to the football teams themselves. In 2023 the club purchased the land surrounding the King Power Stadium with a vision to redevelop the site.
The redevelopment plan envisions expanding the stadium capacity to around 40,000 seats, adding a new hotel, and creating an entertainment hub that would serve both supporters and the wider community. Citigroup projects that Leicester’s revenue for the 2026 financial year will be roughly £97 million, a figure that reflects the club’s commercial potential even while it currently competes in League One. The brochure, however, omits any reference to the club’s recent on‑field struggles – specifically, the two relegations that occurred between 2023 and 2025, which have led to significant financial losses. King Power, led by the Srivaddhanaprabha family, originally bought Leicester for £35 million from Milan Mandaric in 2010.
Over the past decade they have converted almost £300 million of debt into equity, leaving the club virtually debt‑free apart from minor maintenance loans. Sky Sports News has been told that King Power does not feel any urgency to complete a sale. The owners have pledged to continue funding the club fully until a credible buyer emerges.
This summer they backed head coach Russell Martin with nine new signings, signalling that they still intend to invest in on‑field success. The sales document highlights Leicester’s status as the sixth‑most successful English club since the turn of the millennium, branding the sale as a “rare opportunity” to acquire a team with a proven record of winning promotions. The club’s most famous achievements – the shock Premier League title in 2016, the FA Cup triumph and the Community Shield victory in 2021 – are prominently featured.
By contrast, the brochure does not mention that Leicester now finds itself in League One, the third tier of English football. The prospectus also cites recent profitable transfers such as Ben Chilwell, Harvey Barnes and Kieran Dewsbury‑Hall, and it lists legendary former players Gary Lineker and Emile Heskey as notable alumni. When approached for comment, Leicester City declined to respond.
Rob Dorsett of Sky Sports News summed up the situation: "On the face of it, it seems bizarre that King Power would look to sell Leicester City at a time when the club is at its lowest ebb, and at one of its lowest market values, with the team in League One after three relegations in four seasons. But in truth Aiyawatt Srivaddhanaprabha has been seeking new investment for several years – all that is new here is the glossy brochure which advertises the club for sale, accentuating its assets. It is now being actively marketed for sale by financial specialists." Dorsett continued, noting that the brochure is "concrete evidence of a looming end of an era." He explained that King Power wants to exit after delivering unprecedented success, including the improbable Premier League crown, an FA Cup, Champions League participation and a Community Shield.
While some supporters feel that recent failures have tarnished those memories, the club’s assets remain attractive. The Seagrave training ground, for instance, is considered among the best facilities in Europe, and the club is almost entirely free of debt thanks to the owners’ equity injections. Nevertheless, the market realities are complex. Although Leicester’s fan base is passionate, it is smaller than those of many Championship heavyweights.
Dropping into the third tier means that even a swift promotion would not bring the parachute payments that clubs relegated from the Premier League normally receive. Potential buyers will weigh these financial constraints against the long‑term upside of owning a club with a proven track record and a solid infrastructure.
Dorsett warned that a quick sale is unlikely. "It could take years to find the right purchaser," he said, adding that King Power’s continued involvement – exemplified by nine new signings this summer – demonstrates a commitment to the club’s future. The Thai owners’ goodwill toward Leicester is expected to shape any eventual transaction; they are unlikely to sell to the highest bidder simply for a quick profit. The legacy of the late Vichai Srivaddhanaprabha, who died in a tragic helicopter crash at the stadium car park, looms large.
His son, Aiyawatt (known as "Top"), is said to be mindful of that legacy and is looking for a buyer who can honour it and guide Leicester back to sustained success. In summary, Leicester City is being marketed as a high‑value asset with world‑class facilities, a storied recent history, and a debt‑free balance sheet, but it also carries the challenges of recent relegations and a reduced fan‑base. The sale process is expected to be deliberate and could take considerable time, with the owners remaining actively involved in the club’s operations until a suitable new owner steps forward.